For farm use you want to start with the standard AC/DC Lincoln tombstone (shaped) SMAW arc welder for $325. Great for the most versatility in terms of new (heavier) work as well as repair, hard surfacing, etc. Then you need an oxy acet outfit ($400 to $500 including torch head, cutting head, regulator and tanks. This lets you do cutting, small welding, and brazing. But mostly cutting.
A MIG outfit is nice for thin metal like bodywork as well as nice production welding on new stock. Decent 240 volt rig will run $700 and up. It can do aluminum but TIG is better.
TIG is the ultimate for alumum>
I've been researching welding equipment for weeks and the more I learn the
> more baffled I am. I want to build a front bumper for a truck similar to
>formatting linkor a ranch hand
> type bumper. I looked at several welders and have been reading 2 books
> about welding. One is "welder's handbook" complete guide to MIG, TIG, ARC &
> Oxyacetylene welding, the other is "The Oxy-Acetylene Handbook" from 1943. >
> I thought I had settled on an oxy-acetylene rig and a lot of practice, but I
> kept coming across how easy TIG welding is. My preliminary conclusion is
> that a skilled weldor can do anything with any of the methods, just that
> some are more efficient than others. ???
>
> My cost/benefit analysis consists of: new bumper costs $1500-$3000. Welding
> equipment for a casual user and enough steel to practice with is well under
> that, plus I'll have a new skill. The oxy-acetylene combo will allow me to
> cut rebar for construction so that's a definate plus.
>
> In the future, I'd like to be able to weld 1/4 to 1/2 inch steel for typical
> farm applications. I would also like to be able to weld aluminum at some > point.
>
> My questions are: can an oxy-acetylene rig do what I want it to do with
> enough practice? Can it be used to sweat solder in copper pipes for
> residential plumbing (or is it too hot). I've seen prices from 100-700 for
> the equipment to oxy-acetylene weld, is the higher price justified? I plan
> on keeping/using this for 30 years or so.
>
> Thanks!
> Dan